CFPA to fund itself through fees?
December 10, 2009 | alternatives, federal legislation, industry | Comments (0)Fastlendinghelp.com picks up on this:
According to a Congressional Budget Office Report, enacting H.R. 3126 would increase direct spending by $646 million dollars over the next 9 years while decreasing revenues by $490 million. That’s a total budget deficit of more than $1.1 billion dollars and $126 million per year to handle concerns that the House Financial Services and Senate Banking Committees in addition to the FDIC, NCUA and several other federal agencies should be taking care of and monitoring. Are there matters of inefficiency or competency within the federal financial sector that should be addressed ?
Also, according to the report, “The bill would require the CFPA to charge fees to offset the expenses of carrying out its exercise of the government’s sovereign authority, CBO believes that those amounts should appear in the budget as revenues.”
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